Date: 1/12/2024

One of the most common questions that I get asked is “How did you build/buy your dream home at 27?” 

So I wanted to make a thought explaining my Real Estate process and how I have made money using Real Estate…

FIRST HOUSE: I built my first house when I was 20 years old, so the year was 2017… I purchased the house for 340,000 in Bluffdale, Utah… I put 10K down as part of the mortgage program that we did and our payment was 2,100/Month.



We ended up selling the home after 14 months of living in it for a total of $420,000 and after the fees and everything, we walked away with around 60,000 in profit.



The problem with selling your home before a 2-year timeframe, you do have to pay 45% taxes on the profit. So I did pay a large chunk to the IRS that year because I didn’t wait that time. 



SECOND HOUSE: We then were strategic about where we wanted to live… We tried Sandy and didn’t love it, so we decided to try a city named Herriman… It was far away, on a mountain about 20 minutes away from everything I am used to being around, but my wife asked me to try it so I agreed… 



SIDE NOTE: As we were driving to look at the lot, we passed this gated community on the side of the mountain that I wanted so badly. We stopped at those lots before so that we could dream of what it would look like living in these types of houses with this type of view… We then headed to our lot which was about 1-minute down the road in a nice neighborhood.

We built this house, purchased it for 479,000 w/10% down, finished and moved in right before the pandemic in 2020, and loved the house. We had the best basement, a nice little backyard with a small basketball court that me and Nixon created so many memories. It was the best.



We stayed there until July of 2021 and sold the house in Herriman for a total of 715,000, again had to pay taxes, but the change made sense at the time… 



Made a solid profit as you can see and used that money to flip into the third house we built… 


THIRD HOUSE: Remember the lot that we stopped at before going to the second lot? Well, we got that exact lot. What seemed a dream, was now reality for our dream home. This is our current home, so not going to put details on this unless we sell it and do this all over again. 



We were able to build our dream house in 2022 with a very unique and custom entryway that we have always wanted. We love the house, neighbors, location, etc… 



One thing, getting approved for a home loan, is hard, especially the higher purchase of the home. Not only do you have to have the downpayment, but you also have to make enough money to qualify for the loan… 



A good way to look at this is to take 25% of your total monthly income so for instance, let’s say you make 20,000 a month either yourself or as a couple… 



Take 25% of that 20,000 ($5,000) and that should be your baseline for money that you spend per month on your home. I believe you can get to 40% but I do NOT suggest doing that for safety reasons. 

Email me if you have any questions -- bh@bkngrp.com